Analyst Consensus ?
ConsensusHold19 ratings
Bullish1052.6%
Neutral842.1%
Bearish15.3%
The Bank of Nova Scotia · BNS · FY2025 Q2 · Calendar Q2 2025
Scotiabank maintains EPS target amid higher credit provisions
Scotiabank's strengthened capital position, fee-income growth, and maintained EPS target support a cautiously constructive operating thesis, but higher provisions and macro, mortgage, and margin risks limit confidence.
Reported Before market openNYSEFinancial Services
$107.83B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $1.16
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $8.98B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.0%
Event window
SPY move
+2.1%
Same window
Abnormal move
-1.0%
Stock minus SPY
Volume
1.5×
Versus trailing sessions
Subsequent drift
+2.9%
Up to 20 sessions
BNSSPY benchmark
Ask FN2 about BNS FY2025 Q2
Transcript, numbers and history already loaded
What drove BNS's +1.0% move after FY2025 Q2 earnings?What changed in BNS's guidance and outlook in FY2025 Q2?Give me the bull and bear case for BNS after FY2025 Q2 earnings.
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Transcript intelligence
What changed
Relative to the prior-quarter analysis, Scotiabank launched a 20-million-share buyback, reported a higher CET1 ratio, and increased its dividend; the current analysis also highlights a $200 million performing allowance build and continued tariff-related uncertainty.
Guidance delta
Management maintained its 5–7% EPS growth target for 2025; the supplied analysis also describes a double-digit 2026 growth expectation.
Key takeaways
- Capital strengthened, with CET1 at 13.2%, alongside a dividend increase and a 20-million-share buyback program.
- Fee income and wealth management earnings grew at double-digit rates, while active ETFs and private banking supported results.
- Credit provisions increased through a $200 million performing allowance build as tariff uncertainty persisted.
- Management is emphasizing client primacy, AI-enabled productivity, Mortgage+ and Scene+ cross-selling, and international diversification.
Management priorities
- Increase primary-client depth through the client-primacy strategy.
- Expand Mortgage+ and Scene+ products and cross-selling.
- Deploy AI for commercial-client email processing and improve productivity.
- Pursue loan-growth recovery, particularly in international global banking and markets, while maintaining capital returns.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$88.45Current
$67Low
$72.15Average
$75.6High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 11, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Sector Perform | Sector Perform | Maintain | May 28, 2026 |
| Scotiabank | Hold | Hold | Maintain | Aug 30, 2023 |
| Barclays | Underweight | Underweight | Maintain | Aug 21, 2023 |
| CIBC | Outperform | Neutral | Upgrade | Mar 2, 2021 |
| B of A Securities | Neutral | Neutral | Maintain | May 13, 2020 |
| CFRA | Buy | Buy | Maintain | Mar 18, 2020 |
| Credit Suisse | Neutral | Outperform | Downgrade | Dec 13, 2019 |
| Bank of America | Buy | Neutral | Upgrade | Sep 24, 2019 |
| BMO Capital | Outperform | Outperform | Maintain | Aug 28, 2019 |
| Canaccord Genuity | Hold | Buy | Downgrade | Aug 29, 2018 |
| Dundee | Buy | Buy | Maintain | Sep 21, 2016 |
| Macquarie | Neutral | Outperform | Downgrade | Jun 9, 2016 |
| Cormark Securities | Buy | Market Perform | Upgrade | Jun 1, 2015 |
| Citigroup | Neutral | Neutral | Maintain | Mar 6, 2015 |
| TD Securities | Buy | Buy | Maintain | Aug 27, 2014 |
| National Bank Financial Inc | Outperform | Sector Perform | Upgrade | May 15, 2014 |
| National Bank Financial | Outperform | Sector Perform | Upgrade | May 15, 2014 |
| Stifel Nicolaus | Hold | Hold | Maintain | Aug 28, 2012 |
| Bank oferica | Buy | Buy | Maintain | May 30, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $88.45. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| RBC Capital | Darko Mihelic | $74 | $55.38 | -16.3% | Dec 4, 2024 |
| BMO Capital | Sohrab Movahedi | $72 | $48.98 | -18.6% | Aug 28, 2024 |
| UBS | Jill Shea | $67 | $45.46 | -24.3% | Jul 2, 2024 |
| Bank of America Securities | Ebrahim Poonawala | $75.6 | $62.51 | -14.5% | May 19, 2021 |
Track every rating change on BNS the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationThe Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments. The company offers financial advice and solutions, and banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance to individuals; and retail automotive financing solutions. It also provides business banking solutions comprising lending, deposit, cash management, and trade finance solutions to small, medium, and large businesses. In addition, it provides wealth management advice and solutions, including online brokerage, mobile investment, full-service brokerage, trust, private banking, and private investment counsel services; and retail mutual funds, exchange traded funds, liquid alternatives, and institutional funds. The company was founded in 1832 and is headquartered in Toronto, Canada.
Historical context
All BNS earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| FDS FactSet Research Systems Inc. | FY2026 Q4 · Calendar Q3 2026 | +3.9% | +3.8% | FactSet reports record FY26 results as AI and MCP adoption accelerate |
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
Latest beats and misses
Who reports nextBeat on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-05-13T00:03:22.543359+00:00
- Polygon adjusted daily market bars · 2026-10-11T08:10:41.876348+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-11T08:10:41.873576+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-11. For educational purposes only; not investment advice.